Advantech Co (研華科技), a Taiwanese embedded computing service provider, said yesterday that it expects its acquisition of Innocore Gaming Ltd of the UK to be completed in January.
Advantech said the deal to buy the gaming platform provider is expected to boost its revenue in the gaming computing business, which currently accounts for only about 2 percent of its total sales.
A day earlier, Advantech announced that it had agreed to acquire Innocore in its entirety for about NT$163 million (US$5.36 million), with the aim of tapping the European and US markets, in which the UK firm has established a strong foothold.
Innocore, founded in 2007, specializes in designing and manufacturing industrial-grade hardware and dedicated software for the gaming industry.
Last year, Innocore posted about NT$244 million in sales, with 87 percent of the revenue generated in Europe and the US, while its operating profit totaled about NT$19.52 million, Advantech said.
The new Advantech-Innocore business represents a major leap forward for the gaming computing market, the Taiwanese company said.
“Innocore has an unrivaled brand name and with an impressive track record of growth, product development and dedicated experience, provides the ideal opportunity for Advantech,” Advantech chairman and CEO Liu Keh-chen (劉克振) said in a statement.
Innocore managing director Edward Price said the deal would combine the research and development resources of Advantech and Innocore to expand and accelerate the product line.
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